Monday, October 05, 2009

Wal-mart's views about how consumers are reacting to the recession

Consumers around the world are looking to fulfil their "basic needs", but are also displaying considerably higher levels of caution when it comes to making discretionary purchases. So says Wal-Mart’s ceo.

What else can we learn from the US supermarket giant?
Buyer behaviour is also increasingly shaped by the "pay cycle" – with the start of each month seeing particularly high levels of demand.

Customers are buying basic needs but are not spending as much on discretionary items like apparel.

Health and well-being is a sector where the company has seen considerable interest. It appears as if consumers are saying: "I have to stay healthy. I can't afford to miss work. I can't afford to get sick."

In the US, the perceptions about sustainability have improved dramatically in the recent past.
I reckon there is more to learn from the reflections of Wal-Mart than the musings of Jo Average Consultant.

There is no doubt that the recession is having a significant impact on consumer behaviour. Dick Stroud

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